XML 12 R2.htm IDEA: XBRL DOCUMENT v3.23.2
Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Available for sale fixed maturity securities (amortized cost: $71,863,138 and $70,615,724 as of June 30, 2023 and December 31, 2022, respectively) $ 66,806,217 $ 65,316,077
Equity securities, at fair value 7,763,920 7,395,044
Limited partnership interests 262,000 0
Mortgage loans on real estate (net of allowance for credit losses of $34,611 as of June 30, 2023) 24,294,735 23,790,073
Other invested assets 2,165,653 1,760,777
Policy loans 37,228 34,980
Real estate, net of depreciation 1,359,005 1,373,716
Total investments 102,688,758 99,670,667
Cash and cash equivalents 3,897,749 4,091,507
Investment income due and accrued 2,363,115 2,086,365
Reinsurance related assets 185,542 125,549
Deferred acquisition costs, net 5,187,919 5,629,002
Value of business acquired, net 2,472,183 2,518,393
Property, equipment and software, net 292,330 132,475
Goodwill 277,542 277,542
Deferred tax asset, net of valuation allowance 3,294,522 3,294,522
Other assets 905,167 472,275
Total assets 121,564,827 118,298,297
Liabilities:    
Deposit-type contracts 78,511,330 79,035,350
Policyholder benefit reserves 31,430,869 29,411,984
Dividend accumulation 117,236 121,687
Advance premiums 133,208 168,782
Total policy liabilities 110,192,643 108,737,803
Accounts payable and accrued expenses 997,943 448,805
Federal Home Loan Bank advance (1,000,000) (1,000,000)
Other liabilities 183,084 42,295
Total liabilities 112,373,670 110,228,903
Shareholders' Equity:    
Common stock, $0.10 par value. Authorized 20,000,000 shares; issued and outstanding 7,748,922 and 7,746,922 shares as of June 30, 2023 and December 31, 2022, respectively 774,893 774,693
Additional paid-in capital 22,964,490 22,955,458
Accumulated deficit (11,006,159) (11,819,637)
Accumulated other comprehensive loss (3,542,067) (3,841,120)
Total shareholders' equity 9,191,157 8,069,394
Total liabilities and shareholders' equity $ 121,564,827 $ 118,298,297